Judo Bank has entered the Northern Territory market at a time when most other banks are drastically reducing bodies on the ground – and has already refinanced many businesses.

Lindsay Blight has recently been appointed local credit manager.

He has spent many years in the banking industry, including living in the NT as relationship banker and being a credit manager for other major banks for SA/NT for a long period of time. This means Judo will have a local decision-maker who has a strong and intimate knowledge of the NT, business and challenges that are faced.

The bank’s director of relationships, Stuart Palmer, says: “Aussie businesses are the backbone of the Australian economy, but many SMEs don’t have access to the funding they need and the service they deserve. Until now.”

Darren Lynch and his business partners of DCL Hospitality Group approached Judo Bank when they considered buying the freehold of the Virginia Tavern and adjoining convenience store and fuel outlet.

They had purchased and were operating the lease of the tavern earlier in the year. “Judo were very good, very flexible and understanding,” Darren says. “We are happy customers. It was a pleasure dealing with them.”

Mr Palmer says: “We were able to put a very strong deal together.

“We knew what was important to them and structured the deal to enable them to expedite other investments they had planned.

“We backed their experience – other banks weren’t prepared to go to those lengths.”

Jarrod Hawker of Hawker Group, who owns the popular Guzman y Gomez restaurant in Stuart Park, Darwin, says he switched to Judo because his long-term bank showed no flexibility or interest to support the company’s amended needs.

“Our debt doubled through a five-month delay to open the Stuart Park restaurant when Power and Water failed to supply power to the site and was exacerbated further by denying permission for an alternative temporary supply even to complete construction and opening.

“Judo stepped in and refinanced every requirement. Our needs were quickly identified and understood, while our long-term bank turned off the lights. Dealing with Judo was a breath of fresh air.”

Guzman y Gomez has 80 staff and is growing well – “thanks to Judo”.

Judo Bank couldn’t have been more different from alternative banks – the Territory’s managing director of relationships for the bank, Tom Wallace, took the time to meet the Hawker Group owners to discuss their needs.

“Tom and I were quickly comfortable with their character, business history and commitment to the NT, which made for a strong basis for developing the relationship,” says Mr Palmer.

The Financial Times ranked Judo Bank fourth in the top 500 high-growth companies in the Asia Pacific and No 1 in its industry category. Mr Palmer says a key reason for the success is that Judo Bank “never strays” from its purpose to be Australia’s most trusted SME business bank.

“We have a strong commitment to back Australian SMEs with the funding they need and the service they deserve,” he says.

“We use good human judgement, coupled with a sharp financial understanding, to fuel the growth of Australian business owners.”

Judo Bank, the only Australian bank built for small and medium businesses, has a wide range of services.

Business loans, lines of credit, equipment loans and bank guarantees start at $250,000.

Judo Bank also offers growth and acquisition loans. “We support borrowers with strong performance and clear strategic plans, providing capital to unlock expansion opportunities, whether that’s acquiring another business, investing in new capacity or entering new markets,” says Mr Palmer.

The bank offers personal and business term deposits and savings accounts.

Managing director of relationships for the Territory Tom Wallace says: “The Northern Territory is home to some of Australia’s most innovative and resilient businesses, and we’re proud to establish a dedicated presence in Darwin.

“Being on the ground means we can build stronger relationships with local businesses, better understand their ambitions and provide the tailored support they need to succeed.

“Our investment in Darwin reflects our commitment to backing Northern Territory businesses and contributing to the long-term growth of the local economy.” TQ

CONTACT

Judo Bank
13 JUDO (13 58 36)
Stuart Palmer
0417 102 541
stuart.palmer@judo.bank